Starting a cannabis company in Florida? We’ve put together a state-specific guide covering everything from available license types to fees, regulations, and what you should include in a Florida cannabis business plan. Jump to a section by clicking below, or go straight to our sample cannabis business plan.
Since SB 1030 and Amendment 2 passed in 2014 and 2016, respectively, Florida adults can possess and use medical marijuana if they have a recommendation from a doctor. (Florida is one of the few states that doesn’t limit how much cannabis you can have, so long as your doctor says it’s necessary.) More than 500,000 patients have registered for medical marijuana use in the state. In 2021, medical cannabis dispensary sales in Florida could be as high as $1.3 billion. Edibles, CBD oils, sprays, and vaping are permitted, and as of 2020, both edibles and smokable cannabis are now allowed, albeit with a THC cap. Growing marijuana at home is illegal.
Florida only issues one type of marijuana business license: medical marijuana treatment centers (MMTC). MMTCs grow, process, sell, and even deliver cannabis to patients. MMTCs are responsible for inspecting cannabis plants and seeds for pests, packaging, and other responsibilities to ready the product for sale. If you obtain a license for a MMTC, you can open up to 25 dispensaries. Every time 100,000 patients are added to Florida’s medical cannabis registry, each MMTC can add five more dispensaries.
Florida does not license independent testing facilities. MMTCs are responsible for testing their own cannabis for potency and contaminants.
If you don’t want to grow or sell cannabis in Florida, there are plenty of other ways to be part of the booming cannabis industry. You can create a marijuana app, payment processing service, advertising agency, consulting firm, accounting firm, watering system, security service, or legal firm--and that’s just the tip of the iceberg!
Local governments may forbid cannabis companies or certain locations, so check city and county regulations.
Application fees: Applying for a cannabis business license in Florida costs $60,830.
Financial requirement: You need at least $5 million in working capital/escrow/bonds when you apply for a medical marijuana business license.
Staffing: You have to hire a medical director with a valid Florida M.D. (medical doctor) or D.O. (osteopathic physician) license to oversee your MMTC.
Permits: If you’re going to make and sell edibles, you have to get a permit to operate as a food establishment in the state.
A business plan is not required to get a medical marijuana business license in Florida, but it will make the application process much easier. Your application already has to include a cultivation plan, management names and titles, cultivation facility description, odor mitigation plan, marketing plan, org chart, two-year projected budget, and procedures for transport and storage, much of which naturally overlap with a business plan. And if you plan on raising funding from investors, you definitely need a business plan.
Here’s what an Florida marijuana business plan should include:
Google your city or municipality name and “cannabis regulations” or “marijuana laws” (for example, here’s some information on Fort Lauderdale). If your city or municipality’s website doesn’t have information about cannabis, check recent local news coverage or contact your city clerk, city manager, or town hall.
Confused or overwhelmed yet? That’s normal. With such a highly regulated industry, and one with different rules in every state, starting a cannabis company can be very complex. Get help with your cannabis business plan from Masterplans, the industry leaders. We’ve worked with hundreds of cannabis entrepreneurs like yourself to create investor-ready documents and presentations so you can not only meet regulations but get the funding you need. Click below for your free, confidential consultation: